This is the blog of the Commander-In-Chief (CINC) (Pronounced "sink") of the Falconist Party, a new political party founded in 2003 to combine the ideas of the right and the left to take America and the world not left, nor right, but up.

Sunday, September 27, 2009

Falconomics

Alot of people will aks how will the Falconist Party deal with the issues facing America and the world amid the global economic meltdown? How will the Falconist Party deal with a $13 trillion dollar national debt and rising? Well, we do have a program and it constitutes the following.

Replace the Federal Reserve with a USG owned-and-operated Bank of the United States

Implement our version of the FairTax plan

Launch a program to rebuild America that makes the Obama plan pale in comparison

Replace our welfare system with a workfare system

Implement the Guaranteed Healthcare Access Plan

Increase legal immigration and assimilation

Cut and reduce wasteful government spending

Sell federal lands back to the American people

Dedicate 1% of the GDP to paying off the principle of the national debt

The Federal Reserve is semi-private with the biggest banks owning the largest shares of the central bank. Our plan is to replace the Federal Reserve with a government owned-and-operated Bank of the United States whose chairman will be appointed by and subject to dismissal by the POTUS with the consent of Congress. This will take the power to coin money and regulate its value back from the bankers and place it in the hands of Congress.

The FairTax plan involves replacing the income, payroll, social security, medicare, alternative minimum, corporate, capital gains, estate and gift taxes with an inclusive National Sales Tax of 23% with monthly "Prebates" of $187/month and $65/month for every child in that household. Our version replaces the formentioned taxes with a inclusive NST of 25% and monthly prebates of $200 for every legal resident of the USA as well as $200/month for every child. In addition, our version of the FairTax will include a 2% National Land Value Tax. The LVT will only tax the land, not the buildings on it. The LVT will not only raise revenue but also promote land efficency and encourage the redevelopment of land that has been allready built over. The effects of this plan will be as follows.

The FairTax plan will tax the overall size of the economy and not just the 160 million wage earners and businesses.

The FairTax plan will do away with individual income tax returns

The FairTax plan will save America $200 billion a year in tax-compliance costs

The FairTax plan will encourage businesses from around the world to relocate their corporate headquarters and means of production to America.

The FairTax plan will encourage trillions of dollars to flow from Offshore Financial Centers back to the USA.

The FairTax plan will tax illegal immigrants, criminals, and the underground economy

Encourage the economy to grow at an annual rate of 15%

The next element of our plan will be to pass another stimilus package but a real rebuilding program for America. We will spend 5% of America's GDP annually on rebuilding America's infrastructure. Here are the elements of that program.

Build a nationwide network of desalination plants, pipelines, reserviors, dams, canals, and irrigation systems to meet America's water needs as well as replinish aquifiers and dried up rivers, lakes, and streams.

Rebuild America's roads, streets, and freeways, doubling the number of freeway miles around our major cities.

Rebuild or replace half of the bridges that are falling apart in America

Build more power plants, including coal, solar, nuclear, wind, geothermal, and tidal.

Build more health care facilities to provide health care to our people

Build more educational facilities and rebuild existing ones to train the labor force we need to compete in the 21st century

Build more public safety facilities such as police and fire stations

Build more affordable housing units

Rebuilding our urban centers as well as new communities in the sparsely populated parts of America where current residents of public housing will be relocated to.

Rebuild our water mains and other overlooked yet essential parts of our infrastructure.

Reviving the WPA and PWA as well as create a Green Corps to put people to work on these projects.

If we spend 5% of our GDP every year to rebuild our infrastructure, we will immediately put 13 million people to work in America at living wages rebuilding America and we will add $3 to the GDP for every $1 invested in rebuilding our country. Every person we put to work rebuilding our country will also be one person or family we will lift out of poverty and one person or family we will take off our welfare rolls.

I wrote extensively about the GHAP in my previous blog entry concerning health care. The GHAP will replace SCHIP, Medicare, Medicaid, and the employer-based health care system with a system of universal health vouchers for all legal residents to enroll themselves in private insurance plans. This will save employers the cost of providing health insurance to their employees, phase out Medicare and Medicaid, and reduce health care costs as a share of our GDP.

One of the reasons we are having large budget deficits is the increasing costs of social security and medicare. The reason these costs are exploding is because the beneficiaries of these programs are increasing while the wage-earnes are decreasing. To keep these programs solvent, we need to increase the population of wage earners and have a proper population pyramid. In the long run, that means enacting pro-family policies and restoring a culture that encourages large families. In the short run, that means increasing legal immigration and assimilation. I will elaborate more on this in a later blog.

Another reason for budget deficits is wasteful government spending. We can reduce this by consolidating the thousands of programs in dozens of agencies. Instead of having 70 programs for drug abuse, how about one administered by the Health Department. Instead of having dozens of programs to help farmers, how about just one administered by the Department of Resources or Department of Rural, Urban, and Suburban Affairs? We can probably save $400 billion in consolidating government programs and streamling the government which could go to financing our other programs without increasing the tax burden on the American people.

The USG owns an incredible amount of land that could be used for farming, logging, mining, or creating solar farms to meet America's needs. We will sell most unused federal land back to the people save the land we will require for our new communities in sparsely populated America as well as for military posts for our expanding military.

Finally, we need to dedicate at least 1% of the GDP to paying off the principle of the national debt. We already spend $200-400 billion a year on interest on the national debt. If we ballance the budget and dedicate 1% of our GDP (which is currently $13 trillion) to debt retirement, we will be paying off the national debt at $130 billion a year. However, as the economy expands, we can begin paying the debt off at $260 billion a year once the economy doubles. After the economy doubles again, we will pay $520 billion in principle on the national debt. After 15-20 years, we will have retired the national debt and save America $200-400 billion a year in interest on the national debt.

When we have rebuilt our infrastructure, implemented our new tax code, reformed health care, reformed our government, and retired our national debt, we will be a creditor nation again and once again be the world's economic hyperpower. Our task is not insurmountable. It is in our reach. We just need to make these bold steps in doing so.